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Level 3
Feb 3, 2025 2:45 AM UTC
Question

Paying penalties on amendment

If I file my amendment after due date, can I find the penalties I owe and pay that at same time?  If so, where do I put that?

6 replies

Mike9241
Level 15
Level 15
Feb 3, 2025 3:05 AM UTC

No. TurboTax does not compute late payment, late filing or interest on such penalties. you'll get a bill from the iRS.   you can always pay extra

Mike9241
An2425Author
Level 3
Feb 3, 2025 3:11 AM UTC

Thanks, @Mike9241 !  What are the rules for penalties so we can estimate it?  Where can I find that? 

Mike9241
Level 15
Level 15
Feb 3, 2025 3:18 AM UTC

late filing penalties should not apply since those are dependent on the timely filing of the original original return  FYI 4.5% for a maximum of 5 months

late payment penalty .5 % a month unlimited

interest varies.

there may be calculators on the web, but you are unlikely to match the iRS amount

Mike9241